PenFed credit cards?

[Slab]

Can anyone let me know which of the PenFed credit cards is the easiest or best to apply for? I joined today and have a 724 Equifax with 5 inquiries and no baddies. Credit Card Utilization is 2%. Thanks for any advice.

[jboy1972]

---

@Slab wrote:

Can anyone let me know which of the PenFed credit cards is the easiest or best to apply for? I joined today and have a 724 Equifax with 5 inquiries and no baddies. Thanks for any advice.

---

Were the INQs recent? I applied recently and I had 3 inqs on EQ and 3 new tradelines and they denied me for pyramiding debts.

[09Lexie]

They are still using that reason?

[jboy1972]

---

@09Lexie wrote:
They are still using that reason?

---

Yup

applied June 20 for Pefed Visa Sig.. got pending June 21 ...TURNED DOWN June 22..EQ score was mid 700 too..oh well...

[09Lexie]

Shaking my head!

[Slab]

3 recent inquiries, less than 6 months old.

[jboy1972]

---

@Slab wrote:

3 recent inquiries, less than 6 months old.

---

As you know YMMV..I was in the same boat as you.. 3 inqs and new accounts... I guess it wasnt meant to be for me.. Im sure others will chime in on there experiences with Penfed...I will garden my accounts b4 I try again for and auto loan sometime next year.. Good Luck!

[oscar_actuary]

If it's still offered, get the Platinum Visa Rewards, with 5% Gas and 3% Groceries.  Blows BCE away, imo.

I had about 750-ish, had probably 7 inquiries over the year, 3 within 3 months, and a utility of about 20-25% at the time.

It was right before I refied the car (with PenFed, which they took no problem, but I was also well right side up on the loan, fwiw).  And also refied home right afterwards.

Funny thing, that didn't seem to hurt getting 3 more cards after that within three months.

So, long story short.  YMMV.  I have thick thick file.

eta I had  2 new CC (BofA Rewards Visa, and Citi Bank) 1-2 months before apping at PenFed, which I joined soley to get card.

[longtimelurker]

---

@oscar_actuary wrote:

If it's still offered, get the Platinum Visa Rewards, with 5% Gas and 3% Groceries.  Blows BCE away, imo.

---

Unfortunately, no longer offered, replaced by the Visa Sig version which goes to a 3/2/1 reward structure after Oct, 5/3/1 till then.  As you said, blows the BCE away (no caps, 5% on gas, some on groceries) except for those that make heavy use of the select department stores.    At 3/2/1, these cards become much less interesting.

[sandman2435]

after my 3rd time apping with penfed I finely got the platinum rewards in june of last year..and plus I had to send in 2 years of per and corp tax returns..fast foward one year later applyed for their Amex premium rewards..Intra appoved..I think once you get in(get a credit product with them)..Than they will give you all kinds of pre-appovals..As I was also approved for 3 types of other loans..cars ect ect....I was told by a csr that they allow 50K max unsurcured credit